Shakeout in old media picks up pace

5:45 PM,
Mar. 2, 2013

Issues of People magazine are displayed next to a Sports Illustrated ad on a New York City newsstand earlier this month. Time is in talks to sell most of its magazine group, including People and Entertainment Weekly, to the Meredith Corp. However, it is expected to retain control of flagship titles Time, Sports Illustrated and Fortune.

Written by

Roger Yu
| Gannett/USA TODAY

On Feb. 6, Time Warner CEO Jeffrey Bewkes spoke at length about his company's performance in a routine earnings call. He went on about CNN's election coverage, the enduring popularity of HBO - and even the impact that the absence of any new Harry Potter movies has had on Warner Bros. movie studio.

That its print business is on Bewkes' back-back burner was hardly a surprise. But the 2,400-word speech didn't refer to any of its magazines, once the crown jewels of its publishing empire.

Its print division Time Inc. - which includes Time, People, Sports Illustrated, Fortune, InStyle and other ...